Royalty Management, American Resources provide update on Advanced Magnetic Labs

American Resources Corporation (AREC) and Royalty Management Holding (RMCO) announced that their partner and investments in Advanced Magnetic Labs, Inc. has announced a successful year of advancing its technology, capabilities, and strategic relationships for positioning into commercial manufacturing of permanent magnet products. Both American Resources Corporation and Royalty Management Corporation have participated in the Series A Round of capital raising by Advanced Magnet Lab. Furthermore, American Resources Corporation’s wholly owned subsidiary, ReElement Technologies Corporation, is a commercial partner to AML through the sale of high purity rare earth oxides produced domestically by ReElement from the recycling of end-of-life permanent magnets to feed the oxides into the domestic market manufacturing marketplace AML’s manufacturing capabilities are built on the backbone of its technology, PM-Wire, which is a scalable and modular, manufacturing process, that has ability to produce non-sintered and sintered permanent magnets at a high-rate and high-yield. The process is adaptable to a variety of applications, including those that benefit from magnets in unique configurations and material compositions, such as electric motors. The Company’s first step into high-rate commercial manufacturing will be non-sintered permanent magnets for select commercial and defense customers. AML has several development programs underway for enabling electric motor applications, including a collaboration with Oak Ridge National Laboratory for an electric vehicle motor. AML plans to co-locate manufacturing with customers or supply chain partners, with preliminary discussions underway with several United States jurisdictions for site locations. The collaboration with ORNL is a gleaming example of the value of PM-Wire. The technology will replace 2,750 complex Halbach array sintered magnets with eight non-sintered helical magnets and eliminate the need to actively cool the motor rotor with equal motor performance. AML envisions this demonstration as a potential springboard into commercial automotive applications, while also working with other end-use applications in industrial generators, aerospace, and defense. Going forward, the Company will continue to expand its development programs and explore new material compositions for sintered and non-sintered magnets at its two locations, on the Space Coast, in Brevard County, Florida. These locations, which encompass approximately 10,000 square feet, will continue to support customers with prototyping and research and development for alloys and magnets. Furthermore, AML and ReElement Technologies are in discussion of co-location opportunities for full scale production. . AML foresees scaling manufacturing organically in 2024 through strategic partnerships with both customers and material providers. At its current locations in Florida, AML can support an output of approximately 200 metric tons per year of permanent magnets.